Nordic firm increases stake in AM rival

Swedish asset management firm Catella AB has sought to take a 25% position in local market rival IPM (Informed Portfolio Management).

The deal, which is subject to regulatory approval, would see the Stockholm-based company increase its existing 5% position in the fellow Swedish company through a new issue of shares amounting to SEK 33 million (€3 million).

Catella, which first acquired a stake in IPM in November 2011, said the new arrangement would allow it to further enhance its asset management expertise.

IPM is a specialist in systematic investment services with a particular focus on indexing and systematic equities.

At present, the company, which also has its headquarters in Stockholm, manages around €5.3 million in assets on behalf of institutional investors and pension funds.

Commenting on the deal, Johan Ericsson, CEO of Catella AB, said: ‘Through an increased stake in IPM, Catella is increasing its expertise base within asset management with the aim of improving our product offering and strengthening our customer relations.’

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